{"id":58297,"title":"Shell and BP form exploration partnership in Brazil and Gulf of Mexico","publisher":"Stockmark.IT","author":"Stockmark.IT Website","published":"2026-09-04T05:48:03+00:00","modified":"2026-09-04T05:48:03+00:00","canonical_url":"https://stockmark.it/shell-strikes-americas-deal-with-bp-for-near-term-exploration/","markdown_url":"https://stockmark.it/shell-strikes-americas-deal-with-bp-for-near-term-exploration.md","json_url":"https://stockmark.it/shell-strikes-americas-deal-with-bp-for-near-term-exploration.json","category":"Business","categories":["Business","Companies","Oil & Gas"],"featured_image":"https://i0.wp.com/stockmark.it/wp-content/uploads/2026/09/shell-and-bp-form-exploration-partnership-in-brazil-and-gulf.png?fit=1536%2C1024&quality=80&ssl=1","format":"news","language":"en-GB","content":"Shell has agreed to partner with BP on near-term exploration activities across the Americas, securing stakes in both Brazil and the Gulf of Mexico. The arrangement provides the Dutch energy major with access to two significant wells scheduled for drilling within the coming year. BP will retain operational control over both regions, while Shell takes on a financial and strategic interest in the prospective areas.\n\nIn Brazil, Shell will acquire a 50 percent stake in the Tupinambá exploration block located in the Santos Basin. BP is expected to commence drilling on this well shortly. The basin has recently seen significant activity, with BP reporting the Bumerangue discovery last year, which it described as its largest find in 25 years. This new partnership allows Shell to leverage its expertise in a region where BP has already demonstrated substantial success.\n\nSimultaneously, Shell will take a 30 percent interest in five leases in the Gulf of Mexico. These include the Conifer prospect, which holds potential in the Paleogene formation. Although BP originally planned to drill this well this year, the timeline has been pushed back to 2027. The Keathley Canyon area is strategically positioned near BP’s Kaskida production hub, which is set to begin operations in 2029 with a capacity of 80,000 barrels per day. BP secured the Brazil block and four of the Gulf leases in 2023, with the final lease added in February this year.\n\nExecutives from both companies highlighted the strategic importance of the collaboration. Gordon Birrell, BP’s executive vice president for upstream, noted that combining the experience of both operators would help unlock the potential of these opportunities. Colette Hirstius, Shell USA president, emphasised that the Gulf remains a world-class basin where Shell continues to seek opportunities to grow its position and create value. This deal forms part of a broader strategy for Shell, which has recently signed agreements with Chevron in Ghana and progressed a major floating production storage and offloading project in Nigeria."}